Brazil keeps boosting steel output, exports

Brazilian crude steel production rose 9.1% year-on-year to 31.5Mt in the first 11 months of the year, according to local industry association IABr.

Domestic steel sales increased 1.4% to 15.5Mt, the group said. Steel exports totaled 13.9Mt, generating revenue of US$7.18bn, up 14.3% and 42.9%, respectively.

Slab producer CSP, online since June 2016, positively impacted exports, IABr said.

Imports jumped 30.1% to 2.18Mt in January-November. In May, IABr voiced concerns about growing steel imports after reporting a 73.1% year-on-year hike during the first quarter.

Apparent domestic steel consumption was 17.6Mt, up 4.8% compared to January-November 2016.

But despite the positive figures, on December 1 the association said that "without the correction of competitive asymmetries and the resumption of infrastructure investments, domestic steel sales will return to the levels seen in 2013 only in 2028."

Home to companies such as Gerdau, Usiminas, CSN and CSP, Brazil is Latin America's biggest steel producer.